Market gains N12bn, indices up 0.04%

The Nigerian stock market on Thursday gained, as the market capitalisation closed N12 billion higher on buying interests in some medium and largely capitalised stocks.

The All Share Index (ASI) grew by 21 points or 0.04 per cent to close at N55,822.14 from the N55,801.14 recorded on Wednesday.

Specifically, investors gained N12 billion in value or 0.04 per cent, as market capitalisation went up to N30.409 trillion compared with N30.397 trillion on Wednesday.

The upturn was impacted by gains recorded in stocks like Transcorp, Nigerian Breweries, Royal Exchange, among others.

Market breadth measured by market sentiment was negative as 19 stocks declined, while 12 appreciated.

Transcorp recorded the highest price gain of 8.66 per cent to close at N1.38 per share.

Royal Exchange followed with a gain 5.63 per cent to close at 75k, while Champion rose by 4.6 per cent to close at N5 per share.

Living Trust Mortgage Bank went up by 4.21 per cent to close at N2.97, while Cham appreciated by four per cent to close at 26k per share.

On the other hand, NCR and Conoil led the losers’ chart by 9.93 per cent each to close at N2.63 and N42.20 per share respectively.

Universal Press followed with a decline of nine per cent to close at N1.82 per share.

Prestige Assurance lost 8.89 per cent to close at 41k, while Ardova shed 8.33 per cent to close at N15.95 per share.

The total volume traded improved by 104 per cent to 311.48 million units, valued at N3.09 billion, and exchanged in 3,627 deals.

Transactions in the shares of Transcorp topped the activity chart with 179.84million shares valued at N239.24 billion.

Guaranty Trust Holding Company (GTCO) followed with 14.4 million shares worth N1.1 billion, while Zenith Bank traded 18.49 million shares valued at N489.37 million.

Stanbic Bank traded 7.95 million shares valued at N317.98 million, while Sterling Bank transacted 6.73 million shares worth N10.1 million.(NAN)